Preliminary Report on Foreign Holdings of U.S. Securities at End-June 2023

WASHINGTON – Preliminary data from the June 2023 benchmark survey of foreign portfolio holdings of U.S. securities were released today on the Treasury website here. Final survey results, which will include additional detail as well as possible revisions to the preliminary data, will be reported on April 30, 2024.  The survey was undertaken jointly by Treasury, the Federal Reserve Bank of New York, and the Board of Governors of the Federal Reserve System.  The next annual survey will cover holdings at the end of June 2024; preliminary data are expected to be released by February 28, 2025.

Complementary surveys measuring U.S. holdings of foreign securities are also carried out annually. Data from the most recent survey, reporting on securities held at year-end 2023, are currently being processed. Preliminary results are expected to be reported by August 30, 2024.

Overall Preliminary Results

The survey measured the value of foreign holdings of U.S. securities as of June 30, 2023, to be $26,863 billion, with $13,715 billion held in U.S. equities, $11,964 billion held in U.S. long-term debt securities [1] (of which $1,555 billion are holdings of asset-backed securities (ABS)[2] and $10,409 billion are holdings of non-ABS securities), and $1,184 billion held in U.S. short-term debt securities.  The previous survey, conducted as of June 30, 2022, measured the value of total foreign holdings of U.S. securities at $24,893 billion, with holdings of $12,177 billion in U.S. equities, $11,591 billion in U.S. long-term debt securities, and $1,124 billion in U.S. short-term debt securities (see Table A). 

Table A.  Foreign holdings of U.S. securities, by type of security, as of recent survey dates

(Billions of dollars)

Type of security

June 30, 2022

 

June 30, 2023

Long-term securities

23,768

 

 

25,679

 

  Equities

 

12,177

 

 

13,715

  Long-term debt

 

11,591

 

 

11,964

    Asset-backed

 

1,494

 

 

1,555

    Other

 

10,097

 

 

10,409

Short-term debt securities

1,124

 

 

1,184

 

Total

24,893

 

 

26,863

 

Of which: Official

5,946

 

 

6,155

 

Table B.  Foreign holdings of U.S. securities, by country and type of security, for the major investing countries into the U.S., as of June 30, 2023

(Billions of dollars)

 

 

Total

Equities

        Long-term debt

Short

 

 

 

 

ABS

Other

-term

1

United Kingdom

2,622

1,458

98

967

99

2

Japan

2,496

837

270

1,320

69

3

Cayman Islands

2,356

1,568

95

565

128

4

Luxembourg

2,099

1,087

57

826

128

5

Canada

2,055

1,459

138

428

30

6

Ireland

1,478

842

65

422

150

7

China, mainland

1,432

309

267

851

5

8

Switzerland

1,087

683

10

331

63

9

Belgium

984

86

20

805

72

10

Taiwan

717

112

211

388

6

11

Norway

694

511

*

181

1

12

France

677

363

36

257

22

13

Singapore

665

408

24

224

9

14

Germany

623

412

12

187

13

15

Korea, South

585

387

37

149

12

16

Australia

572

474

14

71

14

17

Netherlands

478

320

17

137

4

18

Hong Kong

435

168

10

228

30

19

Kuwait

372

279

6

62

26

20

Sweden

365

315

*

50

1

21

Bermuda

365

132

41

148

45

22

Saudi Arabia

305

184

4

107

11

23

India

248

12

*

233

2

24

Brazil

246

17

*

224

5

25

British Virgin Islands

220

135

3

59

23

 

 

 

 

 

 

 

 

Rest of world

2,685

1,159

120

1,190

217

 

Total

26,863

13,715

1,555

10,409

1,184

 

of which: Foreign official 

6,155

1,567

663

3,701

224

*  Less than $500 million but more than zero.

[i].  Excludes Hong Kong, Macau, and Taiwan, which are reported separately.

[1].  Long-term debt securities have an original term-to-maturity of over one year.

[2].  Asset-backed securities are backed by pools of assets, such as pools of residential home mortgages or credit card receivables, which give the security owners claims against the cash flows generated by the underlying assets.  Unlike most other debt securities, these securities generally repay both principal and interest on a regular basis, reducing the principal outstanding with each payment cycle. 

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